Formula One Group (NASDAQ:FWONA) CEO Sells $2,536,668.39 in Stock

Formula One Group (NASDAQ:FWONA) CEO Gregory B. Maffei sold 35,463 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $71.53, for a total transaction of $2,536,668.39. Following the sale, the chief executive officer now owns 1,240,785 shares of the company’s stock, valued at approximately $88,753,351.05. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Formula One Group Trading Down 2.2 %

Formula One Group stock traded down $1.87 during trading on Wednesday, reaching $83.65. The company had a trading volume of 171,589 shares, compared to its average volume of 104,752. The firm has a market capitalization of $19.66 billion, a price-to-earnings ratio of 72.74 and a beta of 0.18. The firm’s 50-day simple moving average is $77.44 and its 200 day simple moving average is $72.08. Formula One Group has a 52 week low of $55.86 and a 52 week high of $87.42.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Formula One Group stock. Integrated Wealth Concepts LLC raised its holdings in shares of Formula One Group (NASDAQ:FWONA) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,462 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Formula One Group were worth $534,000 as of its most recent SEC filing. Institutional investors own 8.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FWONA. Seaport Res Ptn cut Formula One Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Benchmark reiterated a “buy” rating and issued a $81.00 price objective on shares of Formula One Group in a research note on Thursday, November 14th.

About Formula One Group

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.